Cambridge Trust Co. Has $28.14 Million Holdings in Prologis, Inc. (NYSE:PLD)

Cambridge Trust Co. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,074 shares of the real estate investment trust’s stock after buying an additional 2,060 shares during the period. Prologis comprises 1.2% of Cambridge Trust Co.’s investment portfolio, making the stock its 28th largest holding. Cambridge Trust Co.’s holdings in Prologis were worth $28,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Thompson Investment Management Inc. purchased a new position in Prologis during the 4th quarter valued at about $28,000. FinTrust Capital Advisors LLC grew its stake in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Prologis during the 2nd quarter valued at about $35,000. Qube Research & Technologies Ltd grew its stake in Prologis by 102.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 13,518 shares in the last quarter. Finally, Salem Investment Counselors Inc. purchased a new position in Prologis during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLD. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley lifted their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, Barclays lowered their price target on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Stock Performance

Prologis stock traded down $2.20 during trading hours on Thursday, reaching $104.29. 3,556,972 shares of the company were exchanged, compared to its average volume of 3,357,900. The firm has a market cap of $96.47 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.29 and a beta of 1.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $128.99 and a 200 day moving average of $122.19. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.68%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is presently 116.72%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.